Proximity transaction apparatus and methods of use thereof

1. A terminal comprising:

a transaction module that is executed by a processor and comprises:

a radio frequency reader module that is configured to read a radio frequency payment token presented as a payment medium to receive financial payment data for a financial transaction; and

a transaction processing module that is in direct communication with the radio frequency reader module and in communication with a payment processing entity, whereby the direct communication between the transaction module and the radio frequency reader module prevents translation of data read from the payment token into a simulation of an alternative payment data format before being transmitted from the radio frequency reader module; and

an output device for confirming that a transaction is being performed, wherein each entity that receives the payment token from the transaction module facilitates payment for the transaction.

2. The terminal according to claim 1 , wherein the radio frequency reader is devoid of a capability to simulate a reader employing reader technology other than radio frequency.

3. The terminal according to claim 1 , wherein the output device comprises a printer configured to print a transaction receipt.

4. The terminal according to claim 1 , further comprising a transaction register that is operated by a salesperson.

5. The terminal according to claim 1 , further comprising an imaging device.

6. The terminal according to claim 1 , wherein the imaging device comprises a bar code reader.

7. The terminal according to claim 1 , wherein the financial transaction comprises an ad libitum transaction.

8. The terminal according to claim 7 , wherein the transaction comprises a financial transaction where a purchaser is free to present the payment token issued by a first entity as payment to a second entity for a good or service of the purchaser's election.

9. A terminal for conducting a financial transaction, comprising:

a radio frequency reader configured to wirelessly read a plurality of payment tokens that each employ dissimilar data formats, wherein the radio frequency reader is further configured to provide data corresponding to an elicited response from each token of the plurality of payment tokens;

memory in communication with the radio frequency reader;

a communication module in communication with the radio frequency reader, the communication module being configured to communicate with a remote computer-based apparatus; and

a processor module in communication with the radio frequency reader, the processor module being configured to attempt to decode the data corresponding to the elicited response;

wherein the one or more RFID tags are attached to one or more articles being purchased in the financial transaction, and

wherein, responsive to an indication that the processor module is not configured to perform the decoding properly, the communication module is configured to request from the remote computer-based apparatus at least one machine-readable instruction for properly configuring the processor module to decode the data.

10. The terminal according to claim 9 , wherein the terminal is configured to read a payment token employing a data format particular to a specific commercial entry.

11. The terminal according to claim 9 , wherein the terminal is configured to read a data format employing a data format particular to a specific retailer.

12. The terminal according to claim 9 , wherein the terminal is configured to read a payment token provided by a key fob.

13. The terminal according to claim 9 , further comprising an image reader and decoder for reading and decoding bar codes.

14. The terminal according to claim 9 , further comprising a signature capture pad.

15. The terminal according to claim 9 , wherein the plurality of payment tokens are issued by a plurality of commercial entities.

16. A terminal for conducting a financial transaction, wherein the terminal comprises:

a radio frequency (“RF”) reader configured to read a payment token; and

a communication module in communication with the RF reader and configured to communicate with a remote computer-based apparatus;

wherein the RF reader is operative to transmit data read from the radio frequency payment token without translating the data into an alternative payment data format.

17. The terminal of claim 16 , wherein responsive to an indication that the RF reader is not configured to perform decoding of data of the payment token correctly, the communication module is configured to request from the remote computer-based apparatus at least one machine-readable instruction for configuring the RF reader to decode the tag data.

18. The terminal of claim 16 , wherein the RF reader is further configured to be attached to a shopping cart.

19. The terminal of claim 16 , wherein the RF reader is further configured to initiate a payment transaction responsive to an interaction with a user.